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15/10/2015
Fonds

Axa IM ferme deux fonds obligataires au Royaume-Uni

Axa Investment Managers (Axa IM) a décidé de fermer deux de ses fonds obligataires au Royaume-Uni en raison du manque d’intérêt des investisseurs et du faible niveau de leurs encours, rapporte Investment Week. Ainsi, la société de gestion va fermer les fonds Sterling Long Corporate Bond (35,4 millions de livres d’encours) et Sterling Long Gilt (41,7 millions de livres) le 20 novembre prochain. Ces deux fonds ont été lancés en 2004. « Au regard de la taille des deux fonds, nous pensons qu’ils ne sont plus viables d’un point de vue économique », a indiqué un porte-parole d’Axa IM. Le fonds Sterling Long Corporate Bond était géré par Nicolas Trindade tandis que le fonds Sterling Long Gilt était géré par John Madziyire.
Fonds
15/10/2015

Nippon Life se renforce au capital de Reliance Capital Asset Management

La compagnie d’assurance-vie japonaise Nippon Life Insurance Company a annoncé, ce 13 octobre, la signature d’un accord avec la firme indienne Reliance Capital Limited afin d’accroître sa participation au capital de Reliance Capital Asset Management, la filiale de gestion d’actifs du groupe Reliance. En vertu de l’accord ainsi conclu, la participation de Nippon Life passera de 35 % à 49 %. Le montant de l’opération, qui porte donc sur 14% du capital, s’élève à 22 milliards de yens, soit environ 184 millions de dollars. A l’issue de la transaction, qui doit encore obtenir le feu vert des régulateurs, la société de gestion sera rebaptisée Reliance Nippon Life Asset Management Limited.
15/10/2015
Fonds

Nouvelle baisse des encours des fonds finlandais en septembre

Les actifs sous gestion des fonds ouverts domiciliés en Finlande ont enregistré une baisse de 1,6 milliard d’euros au mois de septembre pour s'établir à 92,6 milliards d’euros , selon des données communiquées par Investment Research Finland. L’encours avait déjà diminué de 4,5 milliards d’euros en août. Le recul des encours est dû pour l’essentiel à l’impact négatif des marchés, les sorties nettes s'élevant à seulement 117 millions d’euros. Les fonds dédiés aux actions ont attiré 240 millions d’euros mais les fonds obligataires de court terme ont subi des rachats pour un montant de 184 millions d’euros.
Fonds
15/10/2015

Further decline in assets in Finnish funds in September

p { margin-bottom: 0.25cm; line-height: 120%; } Assets under management in open-ended funds domiciled in Finland posted a delcine of EUR1.6bn in September, for a total of EUR92.6bn, according to data releasd by Investment Research Finland. Assets had already fallen by EUR4.5bn in August. The decline in assets is largely due to the negative impact of the markets. Net outflows totalled only EUR117m. Funds dedicated to equities attracted EUR240m, but short-term bond funds saw outflows totalling EUR184m.
15/10/2015

DeAWM launches an ETF offering exposure to corporate bonds in US dollars

p { margin-bottom: 0.25cm; line-height: 120%; } Deutsche Asset & Wealth Management (Deutsche AWM) on 14 October launched an ETF offering exposure to the corporate bond market denominated in US dollars. The db x-trackers Barclays USD Corporate Bond UCITS ETF (DR) replicates the Barclays USD Liquid Investment Grade Corporate index. The index is composed of nearly 1,500 bonds, of which more than 80% are issued by companies domiciled in the United States. The ETF is listed on Deutsche Börse, and will soon be listed on the London Stock Exchange. The average credit rating awarded to bonds in the index is investment grade (at least Baa3 for Moody’s, BBB for Fitch Ratings or BBB- from Standard & Poor’s), and the performance of the index currently stands at 3.69%. The ETF uses physical replication and has total expense ratio of 0.2% per year.
15/10/2015

Legg Mason plans to develop in Germany

p { margin-bottom: 0.25cm; line-height: 120%; } Teams at Legg Mason based in Frankfurt are leacing the office building FBC to set up on the 21st floor of the Messeturm from Thursday, 15 October, in nearly 300 square meters. After ten years spent in the same offices, the move marks a desire on the part of the US asset management group to provide itself with the means to develop in Germany. Assets under management at Legg Mason, which has recently acquired RARE Infrastructure, OS Investors and Martin Curreie, total USD6721bn as of 30 September 2015.
15/10/2015

FRR launches a request for proposals

p { margin-bottom: 0.25cm; line-height: 120%; } The Fonds de réserve pour les retraites (FRR) has launched a request for proposals for communication supports. The mission of the service provider will be to design various written communication supports relative to the FRR, and, where applicable, to involve the Fund in the composition of texts.
15/10/2015

Nippon Life increases stake in capital of Reliance Capital Asset Management

p { margin-bottom: 0.25cm; line-height: 120%; } The Japanese life insurance company Nippon Life Insurance Company on 13 October announced that it has signed an agreement with the Indian company Reliance Capital Limited, to increase its stake in the capital of Realiance Capital Asset Management, the asset management affiliate of the Reliance group. Under the agreement signed, the stake in Nippon Life will increase from 35% to 49%. The price of the operation, which is for 14% of capital, is JPY22bn, or about USD184m, After the transaction, which has yet to receive permission from regulators, the asset management firm will be renamed Reliance Nippon Life Asset Management Limited.
15/10/2015

Hargreaves Lansdown posts inflows of GBP1.43bn in first quarter

p { margin-bottom: 0.25cm; line-height: 120%; } At the end of its first fiscal quarter, ending on 30 September 2015, the British asset management firm Hargreaves Lansdown reported net inflows fo GBP1.43bn, compared with GBP970m one year earlier, an increase of 47% year on year. This performance is partly related to an inflow of GBP14.8bn following the acquisition of the activities of JPMorgan Asset Management. However, in a context fo high turbulence on the financial marktes, assets under administration fell 1%, or GBP500m, quarter on quarter. Assets totalled GBP54.7bn as of 30 Setpember GBP55.2bn as of 30 June 2015. This was due to a negative market effect of GBP1.8bn in the past quarter, the asset management firm has said in a statement. Despite these headwinds, Hargreaves Lansdown has posted growth of 11% to its net income, for a total of GBP78.5m as of the end of September 2015, compared with GBP70.8m one year previously.
15/10/2015

Syz extends its investment offering to private equity

In order to respond to changes in the needs of its private and institutional clients, the Swiss banking group Syz is extending its range of available asset classes by offering investments in private equity to its clients, in partnership with the global private equity group ACE & Company, which will identify and manage these investments.In the current environment marked by very low interest rates - or even negative in the case of the Swiss franc - and high equity volatility, Syz already offers investors a series of high-added value investment solutions that are generally less correlated with conventional markets, such as multi-asset strategies, absolute return, credit and multi-management products. To extend the range of solutions offered, Syz has entered into a partnership with ACE & Company, a recognised global private equity group. “A modern private bank has to continuously meet the needs of its clients and offer them viable and high-performing solutions. Thanks to its high potential returns and low correlation with the main markets, private equity is an attractive asset class that has its place in diversified portfolios of sophisticated clients, but which requires specific expertise.” said Eric Syz, CEO of Syz. ACE & Company will present private equity investment opportunities to a Syz ad hoc investment committee, which will assess them based on rigorous selection criteria. These products will then be offered to institutional or private clients of the Syz Group.Founded in 2005, ACE & Company is a global private equity group specialised in co-investments with 32 employees in 5 offices worldwide. The group is able to invest across the entire range of private equity investments, from business angel to buyout, including growth capital and special situations.
15/10/2015

BlackRock registers net inflows of USD50bn in third quarter

BlackRock has reported net inflows in third quarter of USD50bn. Long-term net inflows totalled USD35bn, compared with USD29bn one years earlier, and a one-time redemption of USD7.3bn in third-quarter 2015.Long-term net inflows totalled USD25.5bn in North America, and USD17bn for the Europe, Middle East and Africa (EMEA) region. In the Asia-Pacific region, however, long-term funds completed the quarter with a net outflow of USD7.5bn. ishares completed third quarter with net inflows of USD23.3bn, of which USD18.2bn went to bond ETFs, increasingly used by clients as a liquid diversification tool.Assets under management, however, completed third quarter with USD4.5057trn, doen by more than USD200bn compared with the end of June 2015. The impact of the markets represented a shortfall to make up of USD234.3bn, in addition to which there was a negative market impact of over USD31bn.Net profits for the quarter fell 8% to USD843m, compared with USD917m one year earlier.
15/10/2015

AuM at BofA Merrill Lynch down by USD53bn

p { margin-bottom: 0.25cm; line-height: 120%; } Assets under management by the Global Wealth and Investment Management division of BofA Merrill Lynch completed third quarter at USD877bn, compared with USD930bn as of the end of June 2015, a decline of about USD53bn quarter on quarter. Net inflows were observed, totalling USD4.4bn. The group returned to profitaility in third quarter, with net profits of USD4.5bn, but revenues continued to fall by slightly over USD500m to USD20.9bn in an environment of near-zero interst rates .In third quarter 2014, the second-largest US bank in terms of assets saw a net loss of USD232m, due to a record fine of USD16.65bn for its sub-prime real estate lending practices deemed illicit, at the origin of the financial crisis.
15/10/2015

Aviva Investors Real Estate creates a portfolio management company

Following the issuance of a license by the Autorité des Marchés Financiers (AMF), Aviva Investors Real Estate France (AIREF) has announced the launch of Aviva Investors Real Estate France SGP (AIREF SGP) as an “FIA portfolio management company.” The new entity will be dedicated to the management of regulated real estate investment funds.AIREF SGP as of 1 October managed over EUR1bn in assets via its various supports. Funds managed by AIREF SGP are primarily invested in direct real estate, but also invests in SPVs, club deals, participations managed by third parties, securities and publicly-traded realty OPCVM funds.As part of the launch, the new affiliate AIREF SGP has reinforced its teams. Sébastien Jardin is appointed as CEO and portfolio manager of the new entity. Jardin, who arrived at Aviva Investors Real Estate France in 2011, and had the opportunity to structure indirect invesmtent and fund management activities before taking responsibility for the creation of AIREF SGP.Ellen Zwilling also joins AIREF SGP as head of compliance and internal controls. In this role, she will oversee compliance with professional obligations at the asset management firm.
15/10/2015

Degroof Petercam France adds to wealth engineering unit

p { margin-bottom: 0.25cm; line-height: 120%; } Degroof Petercam France has announced the appointment of Thaline Melkonian as head of wealth engineering from 21 September. Melkonian will be based in Paris, and will report to François Wohrer, CEO of Degroof Petercam France. Melkonian will lead a team of four people, and will continue to develop legal and fiscal advising activities, while concentrating particularly on the structuring of professional and personal wealth for clients of the Belgian financial group. In close collaboration with private bankers and business bankers, she will also be responsible for strengthening assistance to coroporate heads and directing shareholders. “The appointment marks a desire on the part of Degroof Petercam France to strengthen the synergies between wealth management activities and those of the business bank,” the group says in a statement. Melkonian, 42, began her career at KPMG in Brussels in 1998, before joining HSBC Private Banking in 2000 as a legal and fiscal engineer. She then joined the engineering team at the Banque Privée de 1818 in 2006, where she had been employed hitherto.
15/10/2015

Ashmore pâtit des turbulences sur les marchés émergents

Le gestionnaire d’actifs britannique Ashmore, spécialiste des pays émergents, a connu une décollecte de 4 milliards de dollars au troisième trimestre en raison des turbulences ayant affecté la Chine, le Brésil et les autres marchés dits émergents. Couplées à l’effet marché négatif, ces sorties nettes ont provoqué une chute de 7,8 milliards des encours, à 51,1 milliards de dollars fin septembre. La baisse des encours n’avait été que de 2,2 milliards le trimestre précédent.
15/10/2015

Le gérant Man Group enregistre une collecte nette positive

Man Group, le premier hedge fund coté du monde, a fait état d’une collecte nette de 1,4 milliard de dollars au troisième trimestre, les flux entrants de 5,7 milliards ayant dépassé les sorties de 4,3 milliards. Le groupe britannique avait connu une décollecte de 2,6 milliards au premier semestre. L’effet marché défavorable et l’effet change ont cependant entraîné une baisse des encours de 2 milliards sur le trimestre, à 76,8 milliards fin septembre. Man Group avait publié des perspectives «prudentes» au mois d’août, alors que les marchés boursiers mondiaux étaient secoués par les craintes entourant l’économie chinoise. L’action Man gagnait plus de 4% à Londres après ces résultats jugés encourageants.
15/10/2015
Gestion d'actifs

Carlos Pardo quitte l'AFG

Le directeur des études économiques de l'Association française de la gestion financière (AFG) a décidé de donner une nouvelle orientation à sa carrière. Selon Newsmanagers, Carlos Pardo quitte l'association professionnelle après plusieurs années de bons et loyaux services.
Gestion d'actifs
15/10/2015
Gestion d'actifs

Le Fonds de Garantie des Dépôts va lancer son appel d'offres sur les obligations internationales

Le Fonds de garantie des dépôts va lancer, via Insti7, un appel d’offres sur les obligations internationales, essentiellement des dettes souveraines a priori, d’un montant de 800 millions d’euros. Le Fonds de Garantie des dépôts va privilégier une approche de risque maîtrisé, dans le cadre des contraintes réglementaires qui lui sont propres. Cet appel d’offres a pour objectif de remplacer la gestion benchmarkée confiée jusqu’ici à Amundi, Natixis et BNP Paribas par une gestion en rendement absolu sous contrainte de risque. De façon pratique, la première phase de cet appel d’offres va impliquer une cinquante de sociétés de gestion présélectionnées, et devrait durer entre 4 et 6 semaines. Puis une phase intermédiaire doit restreindre le nombre de participants à une dizaine environ. Enfin, au terme d’une troisième et dernière phase envisagée au cours du premier semestre 2016, quatre fonds dédiés devront être constitués. Dans le détail, l’univers d’investissement devrait être élargi à des titres libellés en devises, avec néanmoins une couverture systématique du risque de change. L’univers d’investissement sera naturellement compatible avec la nouvelle Directive sur les fonds de garantie des dépôts. Enfin, toujours selon nos informations, par cet appel d’offres, le FGDR entend également préparer la hausse programmée de ses encours conformément aux prescriptions de la Directive européenne 2014/49/UE relative aux systèmes de garantie des dépôts.
Gestion d'actifs
14/10/2015

BlackRock collecte 50 milliards de dollars au troisième trimestre

Malgré le choc intervenu sur les marchés actions en août, BlackRock a enregistré une collecte nette de 50 milliards de dollars au troisième trimestre, dont 35 milliards sur des produits de long terme. A fin septembre, les actifs du premier gérant mondial atteignaient 4.506 milliards, en recul de 5% sur 3 mois en raison de l’évolution défavorable des marchés. Le résultat net du groupe sur la période s’est élevé à 843 millions de dollars, soit 5 dollars par action, en recul de 8% sur un an mais supérieur aux attentes des analystes.
Blackrock
14/10/2015

Le Portugal émet ses premiers emprunts depuis les élections

Lisbonne a levé mercredi 1,3 milliard d’euros de dette souveraine, sa première sortie sur les marchés depuis les élections législatives du 4 octobre. Le pays s’est financé sur les maturités 2025 et 2037 à des rendements de 2,3975% et 3,236% respectivement. Il visait une fourchette de 1 à 1,25 milliard d’euros. Les élections n’ont pas pu déboucher sur une majorité politique claire, et le Premier ministre portugais sortant, Pedro Passos Coelho, n’a pas réussi mardi à obtenir le soutien du chef du parti socialiste Antonio Costa sur la formation d’un gouvernement de coalition, ont annoncé les deux dirigeants.

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